#Gas weekly
Technical observation
The commodity on the weekly chart above went down with a big red candle towards the supportive zone 3.798-3.711 but it could not reach it, this week I expect either a further rally to the same zone followed by a rejection within it or a rise to the resistance level 5.562. My advice, remain neutral temporarily and buy #Gas within the zone I have mentioned above with your take profit at 5.562 and stop loss at 3.222. As long as the commodity on the chart above is trading above the zone 3.798-3.711, I can only recommend bullish positions, however, should there be a clear breakout below the same zone with a big red candle, i expect a surge to the supportive level 2.071.
Trade recommendation
Buy a bounce within 3.798-3.711 with your take profit at 5.562.
#NIKKEI weekly
Technical observation
#NIKKEI has been declining steadily towards the supportive zone 27146-26880, this bearish movement is a correction to the zone and I expect a rejection within it followed by a momentum to the upper side. My advice, remain neutral and wait for a bounce within the zone 27146-26880 then buy #NIKKEI within it with your take profit at 30299 and stop loss at 25584. In case there is a clear breakout below the zone I have mentioned above, I expect the value of this company’s shares to plunge towards the supportive level 24169. Should there be a clear breakout below the level 24169 with a big red candle; a further momentum towards 19266 can be anticipated.
Trade recommendation
Remain neutral temporarily.
#Brent weekly
Technical observation
#Brent is trading with an increasing bearish bias between a supportive zone 58.64-57.35 and a resistance level 86.52. I expect further bearish movements to the zone mentioned above followed by a bounce within it to pick long positions. My advice, remain flat and wait for a retracement to the zone 58.64-57.35 then buy #Brent within it with your take profit at 86.52 and stop loss at 49.22. In case there is no rejection within the zone I have mentioned above but a clear penetration below it with a big red candle, you can anticipate bearish movements of price towards the supportive level 37.22 or even further to the level 19.54.
Trade recommendation
Remain flat
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